Mondelēz brands boost organic sales in third quarter

Mondelēz brands Oreo, Ritz and Cadbury Dairy Milk have contributed to the multinational's organic sales increase of 1.1% in the third quarter.

The group said growth had been driven by continued improvements in overall volume trends, and price rises to recover currency-driven input costs in inflationary markets.

Net earnings for the period were down 93% to £452m compared with a year ago when Mondelēz was boosted by a £5.6bn gain from the spin-off of its coffee business into a joint venture with Dutch group DE Master Blenders 1753 to create Jacobs Douwe Egberts.

The latest results follow Mondelēz's agreement to buy the global licence to produce Cadbury branded biscuits from Burton’s Biscuit Company, and after a £19bn takeover bid was rejected by Hershey.